Gold Prices Decline as US Dollar and Treasury Yields Rise

On Thursday, the price of gold experienced a downturn, influenced by the strengthening of the United States dollar and a moderate increase in Treasury yields. This shift in the market comes after US President Donald Trump announced a delay in the implementation of tariffs on Canada and Mexico until April 2, potentially diverting attention from the precious metal.

Investors Await US Economic Reports

Investors are on the lookout for the latest US economic reports, which are expected to provide insights into the state of the world's largest economy. Of particular interest is the gross domestic product (GDP) data, set to be released before the stock markets open today.

Market Movements

At 3:16 am ET, gold prices slid by 1% to $2,887.53 per ounce. Shortly after, silver prices dipped by 0.27% to $31.72 per ounce. Platinum, however, saw a slight increase of 0.16%, selling for $979.64 per ounce at 3:17 am ET. Palladium also experienced a gain, rising by 0.18% to $920.13 per ounce.